okay. stock of the day as we head towards the close here. hewlett-packard, out with the earnings last night. somebody apparently got wind of it. big volume, big spike before the report, but it continues today. up another 12%. when it was up 15.9%, that was the best day that hewlett-packard's had intraday percentage-wise since november 6, 2001. big day for hewlett-packard and it's a dow component and it pushed the markets higher. the dow needs to be up 101 points to finish the week positive and so far it looks like that will happen. up 108 right now. the s&p needs to be up 17.35 points. i'm sorry. did reverse. it looks like we won't do that. needs to be up 17-plus points to be positive for the week. doesn't look like that's going to happen. go to the nasdaq even though i went out of order. needed to be up 60 points to be positive for the week, not going to happen. up 20% and what do you make of this comeback?

>> easy money will help the market any day. >> are we too complacent on buying? >> i'll tell you, the way the fed is running the money this has a long way to run. >> this is the fed. >> the news out of europe, the stronger dollar, but at the end of the day without the cheap money from the fed this market goes flat. >> it's not about the sequester that could kick in a week from today, not about the elections in italy or the currency wars going on right now, it's about the fed? >> at the end of the day, yes. you'll see little bumps in the road like the last two days but they will disappear like they did today. up 115 points. >> have a good weekend. >> you too. >> the market is going higher and higher, the dow up 115. looks like it will go out positive and every friday this year. that's it for the first hour. stick around for the second hour "closing bell" with maria bartiromo.

and it is 4:00 on wall street. do you know where your money is? welcome back to the "closing bell." i'm maria bartiromo on the floor of the new york stock exchange. the dow snaps a two-week losing streak and the s&p 500 is posting the first losing week of the year. take a look at how we're settling on the street for friday afternoon. with the dow jones industrial average up 120 points on the session, about 1%, almost 1%. volume not great, but it did pick up at the end of the day with the dow back above 14,000. the nasdaq composite picking up 30 points and one of the leadership groups on the upside. 3161 the last trade there and the s&p 500 up 13 points finishing at 1515. today's action makes one thing clear, no clear direction right now for this market. let's make some sense of it with rich peterson. good to see everybody. thanks so much for joining us. john, let's talk about the catalyst and where you see this market going. how are you invested today?

>> well, we still think that steady issues go, basically consolidating from 1495 to 1530 was the high in the futures this week so we're right in the middle as we come into the weekend. we obviously have the italian elections and bernanke is speaking next week. copper concerns us a little bit. the fact that the metal sold off, including the industrial messals, down to 350. we had a selloff obviously from the highs and decent volumes so the balance is nice and have to make sure that it holds. we think bernanke will be pretty friendly when he's before congress next week so that's a positive. i don't think the fed will tighten anytime soon but do think asset purchases will go down. figure the asset purchase will go down but fed funds are basically going to be flat from basically now until 2015. if they do tighten, it will be slow and deliberate, so i think maybe we'll get a quarter, a quarter, quarter. even if you get a quarter, quarter, quarter, not 22%, 3%

for years. >> let's talk about the catalyst. in addition to what john just mentioned, a meeting, a jpmorgan meeting and what do you think comes out of that? an investor day on tuesday. you want to buy financials? >> i like financials very much. i think jamie dimon does a great job at the analyst meeting and the stock reacts very positively but beyond the meeting on tuesday you actually have the stress tests that are coming up on march 7, and i think that is going to be another catalyst for the industry, that they will be able to raise dividends and buy back stock and this is the group you want to be overweight in between the. in terms of this market today, do you sense any change in settlement when we saw last week the federal government was questioning things.

>> i think we were looking for something to happen, and i think it's very healthy. i don't think you want to panic by any means. i do agree copper is disturbing. we do have to keep an eye on that, but overall, if you look at bottom eases up and housing and auto and aerospace and, again, to the banks and them lending, i think those are the places on the weakness where you want to be put you are your money. >> ron insana, what did you make of the talk this week of the federal reserve suggesting that they are going to start unwinding. >> this is the same ongoing debate that's happened four years ago when the fed started quantitative easing. the same folks are probably dissending over the program in place. the only place who really count are ben bernanke and janet yellin and bill dudley, everybody at the new york fed. jim bullard, the president of the st. louis fed clarified the whole thing on cnbc. that was the real catalyst for the rally today. i'm concerned as i was back on february 12th that we have headline risk for the market and

broadly speaking, not a sell signal horanything like that, that i think we could see a 5% or 10% pullback. many think so. there's risk there. looking at the averages, i don't think you sell good stocks based on this, but the market might be more volatile in the days and weeks ahead. >> what are the headline risks? >> the fiscal follies and in as many as the sequester may not be as big an economic deal as feared. the worry about the fed, had that actually come to pass that the federal was indeed thinking of something also easy would have been a double, triple whammy for the markets. iran is getting back in the news, something that could shake the markets up. this is not a big market call or a career changer trying to say something is going wrong and i think the mark is due and

overdue for a pullback and this is the environment for that to happen. >> when you have this kind of funding level, it's easy to do a deal and this kind of cash on balance sheet. deal flow, rest of the year and how do earnings look from your point? >> i -- a great market leader and a person who many getrance an wall street look up for guidance and leadership. >> certainly a friend of our continues. >> and our condolences. marty said two rules, one, don't fight the fed and rule number two, don't forget rule number one. there's a lot of anxiety and everyone is risk averse. easing will continue until we get 6.5% unemployment sometime in mid-2014 and then the markets

rally. the fact is we've seen a deal flow very buoyant. the fact is m & a activity in the u.s. is up to its best level since 2005 but it's really a segregated activity. merger activities are off 20% from a year ago, look inging a, despite the lbo, technology sectors are over 30 misyear over year. if the fed is very accommodative as capital markets are offering credit, dealing with robust activity, should help the earnings family going forward. >> is that a positive we've got more deals coming or is it where we are in the market? >> our groups at s & p capital iq 70% correlation between the actual activity and s&p 500. >> and it also speaks to the

confidence people have to be putting their cash to work and it's not just dividends and buybacks but also making acquisitions to fund growth for the huge year, and this is sorting to pick up. that's a very -- i think the other point, maia. >> to put a finer point on my concern. the president is relenght on increasing taxes again and i don't think that's good for market psych swri right now. >> john? getting pack. that could be problem make. it's because of the president's filed policies that we believe rate are at historic level. the quicker they start to unwind some of the easing the crisis from 2008 is obviously over but the rates are still here, so that's problematic going forward and as we withdraw liquidity tiny bits at a time, that can

only help the market. >> we'll leave it there. thanks, everybody. we'll see you soon. have a great weekend. >> today's of course,. >> bob pisani wrapping up the winners and losers. >> 14,000 for the dow right on the nose. what moved the markets? jim bullard was a big talking point, on our air 7:00 a.m. eastern time saying the fed is going to keep easing for a long time, and there were reports that mr. bernanke has been out minmissing as and a lot of people think he'll be backing up bullard. a lot of damage was done on wednesday when the fed minutes came out. material the big decliner and my choice for stock of the week, hewlett-packard, up 14%, great

earnings report and their earnings will be out next year the. finally for the week the dow made it into positive territory, just barely and the nasdaq is down 1%. >> thank you so much. much pore ahead. is mick the warning of a bond market blowup. >> i can't think of any political system without interest going on. >> is that america's future? that's next. and pioline protests and finger-potting. we'll have a first on cnbc interview coming up and later daytona 500 history. danica patrick, the first rom to

capture the pole position. will t with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare.

[ woman ] don't forget the yard work! okay. [ male announcer ] with citibank's popmoney, dan can easily send money by email right from his citibank account. nice job ben. [ male announcer ] next up, the gutters. citibank popmoney. easier banking. standard at citibank.

makes it easy for anne to manage her finances when she's on the go. even when she's not going anywhere. citibank for ipad. easier banking. standard at citibank. welcome back. stan druckenmiller sounding the alarm on our government's debt and spending expenses warning on

this program yesterday that a bond crisis could still be at hand. >> you know, the bond market is a funny thing. in greece the bond market was perfectly fine until february of 2010. not moving. not doing anything, and then in two weeks it was over, but if we don't deal with it in the next four or five years, the same thing is going to happen. we're going to wake up. interest rates are going to explode and the next generation, they are going to have a very, very tough time and it's so unfair. >> no surprise that our rick santelli agrees with druckenmiller but dean baker is not worried. he says this isn't and will not be greece. dean, where do you think druckenmiller is going wrong then? >> we've been hearing these things for four years and i'm waiting. three big differences between the united states and greece. first, we're a huge diversified economy, not a little country dependant on tourism. secondly, people in the u.s. pay their taxes, you know. greece had a deficit of about 7%

of gdp. that would be over $1 trillion a year in the united states before the collapse. we have a very different story. the third is a huge difference. we have our own currency. greece is like arkansas. the reason why its interest rates went through the roof. everyone thought that. >> i think the point he was trying to make in that that if we don't do something about this the market will figure out that we have a credit problem in the country. >> the markets are smarter than that. >> when you normalize interest rates, right now they are really manipulated, if you normalize interest rates, you're talking about $500 billion going out the door every year just on interest expen expense. that's just paying the interest on the debt. you think that's sustainable? >> that's a lower interest expense than what we had relative to our economy in the early '90s.

we could live with that. we lived with that in the early '90s and the economy did great in that decade? >> rick, what do you think? >> i think that we have so many os stritches i don't think we have enough stand. whether it's mr. druckenmiller or barron's this week. dean is pretty clear, we aren't greece, but we can be. the math is the same, at least on its trajectory and he's hit all the highlights of why we bury our head in the sand. we're the reserve currency. we're right. we pay our taxes, he's right, except not everybody is required to pay federal taxes. i won't argue that point. according to the greek debt clock, every citizen is responsible for about 41,000. according to the u.s. debt clock everybody citizen is responsible for 50,000. according to baron's, if you look at public debt, okay, and i understand we're not counting underfunded lights which even bill gross said in 2011 makes

our problem way worse than greece, we're at about 75% of gdp. they are at about 150%, but the trajectory at the current rate means in 22 years we will be them, and i -- >> that's a little wacky trajectory there, buddy. >> what's wacky? >> dean is calling you wacky. >> that assumes we have huge rises in debt. >> i hope he lives 22 years to tell his grandkids they are wacky when they are chasing them. >> my grandkids will tell me i'm whack if we follow the prescription of cutting the deficit and raising the unemployment rail even higher and putting their parents out of work. >> and that's what makes us different than greece. we can afford to pay to put people to work as opposed to people working in the private sector carrying their own load. just look at the infrastructure bank they are proposing. it's freddie and fannie.

they are propose creating another freddie and fannie and what's worse, dean, it's going to be off balance sheet like wall street was doing in '07. >> had very good success with infrastructure. in the new deal they dealt lots of infrastructure we're still using today 75 years later. that's what we need to do again. >> you're right. the private sector is not hiring these people. >> that's why the depression wouldn't have ended if it wasn't for the war. i see am tie scla's version. >> it's hard to take seriously. >> because it doesn't fit the plan you're trying to sell. >> if you can have growth with war and spend money on infrastructure, that doesn't create jobs and have growth. >> why am i saying war? do you think i have any problem cutting the defense baby. >> you say we got out of the depression because of world war

ii. >> okay. then let's put out the infrastructure toed bying, cut out all unions that basically put the guy in power and let's start there. you want to play it that way? >> we're a democratic country. can't get out unions. might not like them. people shouldn't join them. sorry, we're a democratic country. >> all that stuff is shovel ready, didn't we see this movie in 2009? >> we didn't need shovel ready as it turned out h.a lot longer recession they were betting on. >> you know what, dean? forget building bridges and building hoover dam, just get all these people to get teaspoons and pay them $20 an hour to move the sand from l.a. to new york and then back again. that's the same thing you're suggesting. >> at least they wouldn't be unemployed. >> if you think that's the answer, who you calling whacky. >> not my top answer, buddy. if you're not going to let me do something productive, i would rather pay them to move sand. >> we want to do something productive. we want government to quit controlling the treasury market

and quit controlling the equity market and the quit controlling the economy. >> i think you've got a conspiracy theory. >> it's not a conspiracy. the markets are shot. you don't even get a signal like stan said. interest rates should be at 6:00 and then all of this would stop. >> i've been hearing this for four years. >> dean, are you saying we should not worry about the debt and it should not be a priority in terms of slowing down the spending? >> saying that as clearly as i possibly can. how can you say that? >> very easily. i just did. had a very small deficit going into this. >> how irresponsible is that? sdh it >> it's irresponsible. how come you folks weren't talking about the housing bubble in 2004, 2005 and 2006? >> i was. greenspan was. you're ignoring them now. >> greenspan was saying there was no double. >> what was barney frank saying? >> he wasn't going to pop it but

recognized it was developing. >> it was his job to pop it. >> we agree on something. >> we're going off on a tangent, as fun as wonderful as this conversation has been, we seem to be going off on a tangent, but interest take there, that you don't think cutting spending should be a priority at all right now, dean. >> zero. >> even though there are expectations that the $16.5 trillion debt is going to 22 trillion very quickly in the next few years. >> yeah, and that's -- that's going to take us back -- our interest payments relative to the size of the economy will be lower than they were in the early '9 as. >> because the fed has trillions of dollars of treasuries, dean. it's a ponzi scheme. >> other people are holding those treasuries voluntarily. >> do i have a vote whether the fed keeps buying them? where do i go to stop the program? >> very important points you both made. see you soon. thank you so much, guys. >> up next, pain at the pump. $4 a gallon gasoline spreading to our nation's capital for the

fifth time ever according to aaaa. live to the nymex and get a check on oil and if you don't want $4 gas should you be for the keystone pipeline hand his nation is getting impatient. wait until you hear who he blames. he'll make his case in a first on cnbc interview. we began with the rx. ♪ then we turned the page, creating the rx hybrid. ♪ now we've turned the page again with the rx f sport. ♪ this is the next chapter for the rx and the next chapter for lexus. this is the pursuit of perfection.

tdd#: 1-800-345-2550 when i'm trading, i'm so into it, tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that kind of focus... tdd#: 1-800-345-2550 that's what i have when i trade.

tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 ...helps me keep an eye on what's really important to me. tdd#: 1-800-345-2550 it's packed with tools that help me work my strategies, tdd#: 1-800-345-2550 spot patterns and find opportunities more easily. tdd#: 1-800-345-2550 then, when i'm ready... act decisively. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 with the exact same tools, the exact same way. tdd#: 1-800-345-2550 and the reality is, with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 ...until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-877-656-8748 tdd#: 1-800-345-2550 and a trading specialist tdd#: 1-800-345-2550 will help you get started today. welcome back. fasten your wallets. is $5 gasoline coming to a

station near you? jackie d'angelis with more. >> reporter: west texas is closing up on the session, and brent crude is just about 114. oil turning positive this morning after some positive sentiment out of europe, and then that bolstered by our equity session as well, but turning our attention to rbob gasoline, seeing an increase of roughly 1% there, and in terms of the gas prices and the translation that we've seen at the pump, the national average for a gallon of regular, $3.78 a gallon. maria, back to you, and have a great weekend. >> you, too, jack. inching up there towards $4. see you later, jackie d'angelis. proponents of the keystone pipeline meanwhile from canada say it would help lower gas prices and make u.s. less dependant on middle eastern oil. the next guest says the media high lies images like this up, the recent protest in washington over its construction rather than public opinion that seems to favor buying more oil from

our friend in canada. joining me in a first on cnbc interview is canadian ambassador to the united states gary doerr. thanks for seeing you. >> thanks for having me. >> want to talk about the merits of the keystone pipe line. first your comment on the media. are the pipeline opponents doing a better job of getting their message out than proponents, or do you believe there's a media bias? >> i certainly believe the public has a lot of common sense so i think that the message is there. the polls are about 60% to 65% in favor of approving the pipeline. having said that, on a day-by-day basis a hollywood celebrity getting arrested at the white house gets more publicity than tense of thousands of workers that are represented by people here in washington and around the united states that are looking to hire people, re-hire people in the construction trades. i think one of the building

trades people said this is not a pipeline for me, it's a lifeline, and when they announce that they would have helmets to hard hats, that doesn't get any coverage and the jobs that would be created by a celebrity getting arrested gets covered. that's just the bay it goes. let's go through the narts of the keystone pipeline. it's important for our audience to see what you're talking about and why you're so passionate on this issue. talk to us about the impact of keystone once that production gets rolling. 800,000 barrels a day. part of this pipeline is from the backen oil field and the other one, of course, is from

it's proposesed to be in a pipe loin and displace venezuelan oil. the question for the united states is is it in the national interest to have oil from venezuela, hugo chavez, or does it make more sense to get it from canada, and when you look at the greenhouse gases, the venezuelan oil, according to daniel jurgen, is -- is higher in ghgs right now than the canadian oil that is proposed to come into the pipeline, so i don't think it makes much sense to have venezuelan oil come to the refineries when you can get canadian and north dakota/montana oil, and i also believe that americans understand being less reliant on the middle east and more reliant in our neighborhood, canada, united states and mexico, makes more common and is, therefore, in the national interests of the united states. >> i'm glad you mentioned the gases, the clean gases.

you've been a leader on climate change which, of course, is the biggest concern of pipeline opponents. why doesn't the environmental impact from this pipeline concern you? >> we we're trying to move for cleaner air and water in both canada and the eyes so we aligned ourselves with the united states on vehicle emission standards which the president issued, the prime minister initiated in canada, and that will have a dramatic impact on the reduction of greenhouse gases, but if you look at this pipeline, for example, in north dakota, we've gone from two years ago 12% of the oil on trucks and trains to 60% today, so the unintended consequences of opposing this pipeline is to have higher if we make the decision on facts and common sense, it will go ahead. if we make it on noise it will

be more difficult. >> have you met with president obama recently? >> not since nebraska which delayed it in all fairness to the president last year. not since nebraska approved it, but certainly we met with the secretary of state two weeks ago. our minister went over all the measures that we're taking in canada on greenhouse gases, and we actually believe that the united states and the president can do both things. he can reach his copenhagen targets and reduce greenhouse gases, and he can also have energy independence in america that he committed to in it 2029 when he was running for president. nat an either off, reduced green huss places. do you think the u.s. media is not being strayed in explain why

it means for the u.s. economy? >> it gets into an either/or. is the president going to side with the union in his stakeholder base that really need the jobs or with the environmentalists? first of all, this won't make any difference on the greenhouse gases. we're committed to lowering greenhouse gases but it's displacing venezuelan oil so if i can say it again to the american media through you, it's displacing venezuelan oil. canada or hugo chavis? i think it's a pretty simple answer. >> it's a great point to make. sur sure. >> mike: thank you very much. ambassador doer joining us live from caad. does this create the perfect buying opportunity. and later does it get any raise year than this? danica patrick is the first woman ever to take the policy at

the daytona 500. the question everyone has now is will she win the race? plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies."

try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase.

welcome back. exactly one week from today the automatic spending cuts will be triggered. more dire warnings today from the administration about the impact of those cuts. let go live now to john harwood

for the latest developments on the story. john? >> reporter: maria, the white house did a one-two punch on the looming sequester. first was having transportation secretary, ray loo hood, the only republican coming into the briefing room and warn about delays in air travel. >> delays will ripple across the country. cuts to budget mean preventive maintenance and quick repair of rubway equipment might not be responsible which could lead to more delays. >> spoke of 90-minute delays in crowded area. you also had the interior department warning that national parks would find -- advice would find -- the president came out and said there is a way out for republicans.

>> there's an a.m. alternative which is for us to take the kind of balanced approach that i presented where we have more strategic cuts on programs we don't need and we close some tax loopholes that are taking advantage of by the well connected and well off. by the way, that's what the majority of the american people prefer. >> so, maria, it's the same story as we've had all week. the administration trying to leverage the pressure of public opinion on republicans to get them to relent and agree to some tax increases to get around this sequester. no sign of movement so far. >> all right, john. thank you so much. there have been many expressing skepticism about just how harmful the spending cuts would be and it seems the stock market is among skeptics. why is that? with us chad morgauan lander an chris constantinos from riverfront group. gentlemen, thanks so much for joining us. i want to begin a sound bite. yesterday i spoke with legendary hedge fund manager larry

druckenmiller about sequestration as a catalyst to get things going. >> the hype over sequestration is a joke. >> same thing about the fiscal cliff? >> sequestration is 85 billion. if you net out sandy, you're talking about a quarter of 1% of gdp. >> so what do you think? is sequestration a big deal, chad? >> no, not a big deal at all. he's spot on, 100% right. roughly about half a percent of gdp and when you look at it from a big picture perspective, the u.s. governor is -- we should cut our budget somewhat and this is a most attempt at doing it. the budget cut would be roughly about 2% growth for 2013. >> okay, all right. you're still talking about growth. >> it's growth. >> chris, where do you stand on this? >> well, i'm happy to say that

stanley druckenmiller is an old hero of mine so i agree with him, too. the most important thing is that basically we believe, even if the sequestration goes through, which we expect it will, and we view it as being a half a percent drag on gdp, that the u.s. is going to remain out of recession for 2013 and really probably the more important thing from a risk asset perspective is that the fed in our opinion, the bernanke put us still alive and well. there's concern when the fed minutes came out. our view is the bernanke put us still alive and well and for risk markets that's a more important indicator than half a. >> here we are watching the fed continue to throw on all the stimulus and people are worried that at some point there's downside risk. >> i don't foresee a downside

risk for 2013 and the federal reserve, like your guest is saying, will continue to do qe. the baton has to be passed on to an earnings driven rally at some point. >> want to break away. breaking news. want to get to josh lipton with breaking news on moody's. over to you. >> you're there, maria, talking about debt, deficit spending. the news from moody's. the headline here. moody's has now and we're just getting this in. the uk government's bond rating has been downgraded from aa 1 to aaa. the outlook is stibl. growth outlook with a period of sluggish growth which moody's expects will extend into the second half of the decade. maria, back to you.

>> all right, thank you so much, josh. here we go. got moody's downgrading the u.s. their bond raidings. what's your reaction? >> this is expected. in the -- what's expected there in order for them to get out of their debt burden they will node to do additional quantitative easing as well as grow their way out of it, and they haven't done any of that currently. but one could expect to see now cries for a fiscal still plus there as well as perhaps additional quantitative easing. >> big deal that moody's is downgrading the uk? are they going to downgrade the u.s. given our situation here, that we are moving from cliff to cliff? >> well, maria, i guess i'd have to go back to historical precedent. the last to ima rating agency downgraded it, the stock market did nothing but go up basically,

and i suspect a little bit overseas. the uk is fitting in with our theme that european markets across the board are cheap and are historical models and as long as the bank of england is prepared to act in some form of fashion the way the fed has and the ecb has and increasingly the way the bank of japan is acting i suspect in international markets the path to least resistance should be up for the intermediate to long term. >> sounds like you both want to put money in stocks. >> overweight u.s. equities and underweight the european equities. >> fundamental comments on the same question. >> we're overweight risk and flip that around, underweight the u.s. and overweight europe and japan. have a nice weekend. >> found a mistake or two in your credit report. up next, you're not alone, but you may be out of luck because that same report says the agency will not fix the mistakes. the head of one credit bureau

will explain next and more on danica patrick coming up. [ male announcer ] any technology not moving forward

is moving backward. [ engine turns over, tires squeal ] and you'll find advanced safety technology like an available heads-up display on the 2013 lexus gs. there's no going back. welcome back. last week the federal trade commission put out a damning report on the three major credit reporting agencies saying they make a lot of mistakes on consumers' reports and worse yet won't fix them. here is the president of

expierion credit bureau. great to have you on the program. >> thanks for having me. >> what's your response to the ftc report? >> let's talk about the headline. the most important in the report is the fact that the ftc found 2.2% of credit reports in the united states had a material error, and let's flip that around. >> okay. >> that means that 98% of all credit reports in the united states are accurate, right? that is a remarkable figure. it's not good enough. we have to do better, and we have to keach pushing until that's 100%. >> you're saying, look, let's not make too much of this. virtually perfect. >> i have. it's it-2--2 percent. >> the environment that produces credit is neck. they reported on a monthly basis, i get it 24/7, 365 and load it to five.

i respond to 350,000 consumer disputes every month, and every day i get about 1.5 to 2 million credit inquiries that come into the system. all of those are combined, you know, to form the credit reports, and we respond to our lenders in less than one second. >> okay. >> with a credit report coming back. >> you're there. >> the issue is they are saying you're not responding, and, worse, you're not really changing it when it's a mistake because, oak, owe owe stroe-- l what he told me last week. >> when you point out error to them, it's virtually impossible to get them to fix it, and that's really what the problem is. >> what is the story there? why is it so hard to fix it? >> so, first of all, i think you have to understand experion is a regulated business and have been

since its -- right now the primary regulator is the cfpl. >> what i'm teague is there e's business that works every single day in public/private partnership with the regulators. now, what we do is we focus on how to make it better, and we have solutions that we've been working on. the reason i took you through the idea that it's a complex economy is totismly here, making a lot of small things better, right? >> how easy or tough is it for you to make a mistake? how long does it take you to fix them or if consumer finds there's a mistake? >> less than 50% of the regulatorily mandated type, okay. most consumers recognize their

mistakes by going into annualcreditreport.com and pulling a copy and look at it. when they see an error they will turn around and dispute it. most of them dispute it online. fairly easy and most those clowns are due out. i have a report by the >> >> they find 26 why is of the stunts. you just toys seas 1.6%. >> let's be careful with the facts. when they say is 25% of the credit point has a urea. think of an environment where you're going out and putting money into a credit system. that could happen at the point of sale and someone entering your code because you've been at a department store and you are

looking to provide credit and motor of those will not affect your credit and that's the difference in the ftc numbers. 29.2% is the material effect. >> the issue is 5% consumers have reports with serious enough errors that actually change the rate that they are able to get when they want insurance, buying a home. if the error is experan's hour. shed this be -- you have to remember, that 5% number and the 2.2% number, one in the thing thing and the question is i'm a single consumers. those why those -- when you ask the broader question of when we do to help consumers, the first thing you've already said is the

rhett of the -- how they can go in an par tis a the swipe and go economy. when you walk in and walk out of a car dealership with the car and end up a great rate lock on the rate you're seeing, that's not possible without this level of data. >> all good when it works. thanks, for jong out. one of the three credit rating agencies to join us. >> another week, another decline for gold's futures and are more declines ahead, or is the precious metal on the cusp of a bull run? stay with us. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary.

it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a reverse mortgage works, how much you qualify for, the ways to receive your money, and more. plus, when you call now, you'll get this magnifier with l.e.d. light absolutely free. when you call the experts at one reverse mortgage today, you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪

♪

well, before this week, donna kilpatrick was known as a famous and famously good-looking race driverment after making history, she could end up being the true star nascar always hoped she would be. >> brian shactman. >> if danica wins the daytona 500, she could lose every ray and still go down as a legend. it has raised the profile of nascar. i wouldn't be on the show if not for her.

the racing circuit could use the boost. television ratings hit a five-year low last year. in the key 18-34, it was down 25%. talladega, the most famous track, saw it drop by 17,000. canada, she needs this too. she has made approximately $25 million over the last two years despite not winning at any level of nascar. she wasn't even a-list enough to lead her signature go daddy ads in the super bowl. she needed bar refaeli to get the obl ga torre buzz going. tv ratings are up in 2013. the race this weekend will draw in the casual fan who wants to see danica make history. back to you. gold prices falling to a seven-month low. has gold officially loss the its shine. let's go to brian shutland.

what do you think? >> it has been a tough week for gold. down about 12% since september. we did see some traders step in and look for levels to buy. we saw the trade down to 151. gold still continues lower. we saw one trader make a 300,000 share bet. selling some put, the march puts for .45 cents. they are selling insurance. they don't want to buy gld until she see it again down to 145. whether they are hacking in to me or whatever, i put the similar trade on for my clients and myself. i want to get long gld. i don't think there are a lot of things going. monetary base, volatilities rising. it has been a tough trade. that's where you want to get in at gld. >> for more on options insight, stay tuned. that's straight ahead, top of the hour after closing bell.

my thoughts on what's really driving these markets, next. stay with us. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade.

i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare.